SEBI/HO/DDHS/DDHS - PoD - 1/P/CIR/2024/117
circulars · 1992 · State unknown
Parent: THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 (7c4c1f5343adab106c3a94cafc08a5ecf5957ae7)
Text
CIRCULAR SEBI/HO/DDHS/DDHS - PoD - 1/P/CIR/2024/117 September 06, 2024 To, Issuers who intend to list their Commercial Paper; Recognised Stock Exchanges; Madam/ Sir, Subject: Modification in the timeline for submission of status regarding payment obligations to the stock exchanges by entities that have listed commercial paper (Modification to Chapter XVII of the Master Circular for issue and listing of Non -convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper) Chapter XVII (Listing of Commercial Paper) of the Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper dated May 22, 2024 , (hereinafter referred as ' NCS Master Circular' r' ) issued by SEBI, specifies provisions pertaining to listing of Commercial Paper . Regulation 57 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as "LoDR Regulations") mandates entities with listed non -convertible securities to report the status of their payment obligations (payment of interest or dividend or repayment or redemption of principal) within one working day of its payment becoming due whereas Para 8.4 of Chapter XVII of the NCS Master Circular requires issuers of listed Commercial Paper to submit a certificate confirming the fulfilment of their payment obligations within two days of payment becoming due. The relevant extract of the said provision is given as under: Para 8.4 of Chapter XVII of the NCS Master Circular reads as under: " 8.4 A certificate confirming fulfilment of its payment obligations, within 2 days of payment becoming due". In order to align the timeline of intimating Stock ExchangeRule TOC
57 · of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as "LoDR Regulations") mandates entities with listed non -convertible securities to report the status of their payment obligations (payment of interest or dividend or repayment or redemption of principal) within one working day of its payment becoming due whereas Para 8.4 of Chapter XVII of the NCS Master Circular requires issuers of listed Commercial Paper to submit a certificate confirming the fulfilment of their payment obligations within two days of payment becoming due.
